Cresset Asset Management LLC Raises Holdings in Accenture PLC $ACN

Key Points

• Cresset Asset Management LLC increased its stake in Accenture PLC by 19.4%, holding 93,186 shares valued at approximately $29.08 million after acquiring an additional 15,161 shares in the first quarter.
• Accenture recently reported earnings of $3.49 EPS, surpassing estimates by $0.17, and had a revenue of $17.73 billion, reflecting a 7.7% year-over-year increase.
• The company announced a dividend of $1.48 per share, yielding 2.4%, with a dividend payout ratio of 47.13%.

Cresset Asset Management LLC lifted its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 19.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 93,186 shares of the information technology services provider's stock after acquiring an additional 15,161 shares during the period. Cresset Asset Management LLC's holdings in Accenture were worth $29,078,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ACN. Mpwm Advisory Solutions LLC purchased a new stake in shares of Accenture during the fourth quarter worth about $30,000. Park Square Financial Group LLC acquired a new stake in shares of Accenture during the fourth quarter worth about $31,000. Inlight Wealth Management LLC acquired a new stake in shares of Accenture during the first quarter worth about $32,000. Capital A Wealth Management LLC acquired a new stake in shares of Accenture during the fourth quarter worth about $34,000. Finally, Navigoe LLC acquired a new stake in shares of Accenture during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 75.14% of the company's stock.

Accenture Stock Performance

NYSE:ACN traded down $0.7190 during trading hours on Wednesday, reaching $255.1610. The company had a trading volume of 4,105,360 shares, compared to its average volume of 3,558,731. Accenture PLC has a 1-year low of $236.67 and a 1-year high of $398.35. The firm has a market cap of $159.81 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 2.27 and a beta of 1.29. The business's 50 day moving average price is $281.27 and its 200-day moving average price is $309.36. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46.

Accenture (NYSE:ACN - Get Free Report) last announced its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.32 by $0.17. The business had revenue of $17.73 billion during the quarter, compared to the consensus estimate of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%.The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.13 EPS. Accenture has set its Q4 2025 guidance at EPS. FY 2025 guidance at 12.770-12.890 EPS. Research analysts forecast that Accenture PLC will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 10th were paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, July 10th. Accenture's dividend payout ratio is presently 47.13%.

Insider Transactions at Accenture

In other news, CEO Mauro Macchi sold 500 shares of the company's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $141,170.00. Following the completion of the transaction, the chief executive officer directly owned 2,283 shares of the company's stock, valued at $644,582.22. This represents a 17.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Angela Beatty sold 203 shares of the company's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $282.34, for a total value of $57,315.02. Following the transaction, the insider directly owned 5,249 shares of the company's stock, valued at approximately $1,482,002.66. The trade was a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,954 shares of company stock valued at $834,280 in the last three months. 0.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ACN shares. Benchmark reaffirmed a "mixed" rating on shares of Accenture in a report on Friday, June 20th. Argus set a $370.00 target price on Accenture in a report on Tuesday, June 24th. Mizuho set a $348.00 target price on Accenture and gave the stock an "outperform" rating in a report on Tuesday, June 24th. Guggenheim decreased their target price on Accenture from $360.00 to $335.00 and set a "buy" rating for the company in a report on Monday, June 23rd. Finally, Evercore ISI assumed coverage on Accenture in a report on Thursday, July 17th. They set an "outperform" rating and a $330.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $358.08.

Accenture Profile

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.